The Surprisingly Monkish Life of 1950s Executives

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.

Counterparties put up a link yesterday to a recent reprint of a 1955 Fortune article that profiled the lifestyles of Eisenhower-era top executives. There’s all sorts of great stuff there, most prominently the surprisingly low incomes (by current standards) of the very top of the top back then. Adjusted for inflation, they figure the top 30,000 execs earned $400,000 and up in 1955 — a sadly reduced income compared to past glory days, which meant they had to buy much smaller yachts and make do with only two servants. (I’m not making that up. Read the story!) Today, the same slice of top execs probably earns more like $3-4 million and up. (Way up.)

But that’s old news. This was my favorite paragraph:

[The successful American executive] spends almost no time on politics. He entertains often because he must (i.e., for business reasons or on account of his wife) and, under much the same compulsion, he attends cultural events. He does little reading outside of newspapers, newsmagazines, reports, and trade papers….He drinks, if he drinks at all, moderately and on a schedule. Alcoholism, it is clear, does not go with success and is to be found only among some executives’ bored wives. Extramarital relations in the top American business world are not important enough to discuss.

Got that? American executives of the 50s were apolitical, hardly drank at all, and never fooled around. Thus spake Fortune magazine. Methinks they didn’t have their fingers on the pulse of the executive suite quite as closely as they thought they did.

Also, be sure to check out the casual sexism that marinates the entire piece. There’s nothing surprising in it, but it’s still a sight to behold.

A BETTER WAY TO DO THIS?

We have an ambitious $350,000 online fundraising goal this month and we can't afford to come up short. But when a reader recently asked how being a nonprofit makes Mother Jones different from other news organizations, we realized we needed to lay this out better: Because "in absolutely every way" is essentially the answer.

So we tried to explain why your year-end donations are so essential, and we'd like your help refining our pitch about what make Mother Jones valuable and worth reading to you.

We'd also like your support of our journalism with a year-end donation if you can right now—all online gifts will be doubled until we hit our $350,000 goal thanks to an incredibly generous donor's matching gift pledge.

payment methods

A BETTER WAY TO DO THIS?

We have an ambitious $350,000 online fundraising goal this month and we can't afford to come up short. But when a reader recently asked how being a nonprofit makes Mother Jones different from other news organizations, we realized we needed to lay this out better: Because "in absolutely every way" is essentially the answer.

So we tried to explain why your year-end donations are so essential, and we'd like your help refining our pitch about what make Mother Jones valuable and worth reading to you.

We'd also like your support of our journalism with a year-end donation if you can right now—all online gifts will be doubled until we hit our $350,000 goal thanks to an incredibly generous donor's matching gift pledge.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate